Exclusive Mortgages Direct has launched two fixed rate mortgages funded by Birmingham Midshires.
Borrowers can choose between a two-year fix at 3.99 per cent with a 1 per cent cashback offering 95 per cent loan to value and a 4.99 per cent fix with 3 per cent cashback offering 90 per cent loan to value
Buildings insurance is compulsory, otherwise the rates are increased by 0.25 per cent.
There is a £299 completion fee added to the loan for both rates.
The redemption fee on the 3.99 per cent fix is six months' interest in the first five years. For the 4.99 per cent fix it is four months' interest plus return of cashback in the first five years.